Why doesn't the media not talk about this record setting real estate bubble?
It is far worse than the 05-08 bubble.
In 08 at the height, a starter home in my area went for about 150K now the same house is 325K
I think I phrased that wrong.....Why doesn't the media talk about this record setting real estate bubble?
No one has doubled their salary in the past 10 yrs. Minimum wage is the same as 10 yrs ago in my state. First time homebuyer's income has not doubled since 08
- Anonymous5 months agoFavorite Answer
it will make the situation worse. So it went down again? I have a land.... will the price drop?
- Raymond L.Lv 45 months ago
wow, that is about the same kind of rises in western Oregon
- DEBSLv 75 months ago
So you're asking why they talk about it? Or was that a mistake?
It's likely there is a bubble. There is nothing to that it will drop prices back to pre-bubble levels. Inflation is a real thing and area of higher demand, whether directly like larger cities or indirectly through people running from larger cities, will be more expensive outside of any bubble.
- ron hLv 75 months ago
in Trumplandia, there are no bubbles. In Trumplandia, there is only appreciation.
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- 5 months ago
In my area, prices are still lower than the last bubble. Just because values are up doesn't make it a bubble.
- A HunchLv 75 months ago
It's not "way worse" than in 2004-2006.
The property you are referring to increased 116.5% in 10years.
The bubble in the early 2000s were 400% increases in 2-3 years.
Buy a property in Irvine, CA for $195K in 2002 and it was worth $600K+ in 2005.
- Anonymous5 months ago
1) The media talk about housing prices all the time.
2) There has been much comparison to the prior bubble and it is evident that the two situations have many differences which make the current situation less concerning than the prior bubble.
...and how much money were you making fourteen years ago in 2005 compared to today?
- Anonymous5 months ago
First of all the mortgage are not as dumb as they were before. They had to many hedge funds, or sharks to loan money with was high interest to anybody even if you did not have a job. They lend to anybody. So you are stuck with a 2k payment with no way of paying it.
Hedge funds, banks, and insurance companies caused the subprime mortgage crisis. Hedge funds and banks created mortgage-backed securities. ... Demand for mortgages led to an asset bubble in housing. When the Federal Reserve raised the federal funds rate, it sent adjustable mortgage interest rates skyrocketing.